Answer to Question #259665 in Other for Lia

Question

The cash account of XYZ Company has a beginning balance of P129,937.50. Its year-end balance stands at P254,925. The table below shows the summarized transactions from the cash account of XYZ Company.

Cash received from customers P 725,175.00

Payments to suppliers 300,547.50

Payments for other operating expenses 58,850.00

Salaries paid 19,992.50

Purchase of equipment 253,000.00

Sale of delivery equipment 6,875.00

Proceeds from sale of computer equipment 47,762.50

Withdrawals of owners 229,350.00

Proceeds from bank loan 82,500.00

Contributions of owners 137.500.00

Interest paid 8,085.00

Requirements:

1. Prepare the Statement of Clash Flow of XYZ using the direct method,

Answer 1

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